David Edwards
With an unexpected emphasis on AI filmmaking, Tether, the force behind USDT, the most popular stablecoin in the world, is making daring forays into artificial intelligence (AI). Tether recently invested $775 million in the video platform Rumble and ventured into commodity financing.
Tether CEO Paolo Ardoino highlighted how AI and the company’s objectives work together.
“AI-based roles, particularly in filmmaking, bring unique advantages that align with Tether’s vision of innovation and efficiency, from scale to speed and cost being a few examples,” Ardoino wrote in his email.
Ardoino emphasized that Tether is strategically focused on AI, which calls for quick adaption and focused hiring to develop competencies in this emerging discipline.
Tether Steps Up AI Development Initiatives
A group of experts is being assembled by Tether to develop its AI-powered filmmaking platform. The organization has hired 30 professionals in the last several months and plans to hire more in Europe, Asia-Pacific, Argentina, Colombia, and Brazil. By the middle of 2025, it intends to quadruple its personnel to 200.
Tether has also purchased stock in Northern Data, a cloud computing and AI company, as part of its AI aspirations. Although the platform’s specifics are still unknown, Tether’s foray into AI underscores the expanding relationship between cryptocurrencies and AI.
Dominance of Tether in the Stablecoin Ecosystem
With $138 billion USDT tokens in circulation, Tether is the market leader and holds 67% of the stablecoin market. For smooth transactions and as a hedge against the volatility of the cryptocurrency market, traders rely on USDT. Because it doesn’t release audited financial records, the corporation has come under fire for transparency despite its dominance. Nonetheless, CEO Ardoino predicted yearly profits of above $10 billion, indicating strong financial standing.
There have been challenges along Tether’s path. Its stablecoin has been connected to illicit abuse, including actions by sanctioned organizations and international crime syndicates. The business has shown a dedication to compliance by working with law enforcement to freeze assets connected to illegal activities. Additionally, it has been suspended from multiple platforms in accordance with EU rules due to regulatory issues in Europe.
Tether’s forays into artificial intelligence and other cutting-edge domains demonstrate its desire to transform the cryptocurrency and technology industries.
